BYLINE BANCORP’s (NYSE:BY) quiet period is set to end on Wednesday, August 9th. BYLINE BANCORP had issued 5,700,000 shares in its IPO on June 30th. The total size of the offering was $108,300,000 based on an initial share price of $19.00. During the company’s quiet period, insiders and underwriters that worked on the IPO are restricted from issuing any earnings forecasts or research reports for the company because of regulations issued by the Securities and Exchange Commission. Following the expiration of the company’s quiet period, the brokerages that served as underwriters will likely initiate research coverage on the company.
BY has been the topic of several research reports. Bank of America Corporation initiated coverage on shares of BYLINE BANCORP in a research note on Tuesday, July 25th. They issued a “buy” rating and a $25.00 price target on the stock. Stephens started coverage on shares of BYLINE BANCORP in a research report on Wednesday, July 26th. They set an “equal weight” rating for the company. Keefe, Bruyette & Woods started coverage on shares of BYLINE BANCORP in a research report on Tuesday, July 25th. They set a “market perform” rating and a $22.00 price objective for the company. Finally, Piper Jaffray Companies started coverage on shares of BYLINE BANCORP in a research report on Tuesday, July 25th. They set an “overweight” rating and a $25.00 price objective for the company.
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BYLINE BANCORP (BY) opened at 20.67 on Friday. The company’s market cap is $586.86 million. The company has a 50-day moving average of $20.57 and a 200-day moving average of $20.57. BYLINE BANCORP has a one year low of $19.29 and a one year high of $21.49.
BYLINE BANCORP (NYSE:BY) last released its earnings results on Thursday, July 27th. The company reported ($0.18) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.21 by $0.39. The company had revenue of $43 million during the quarter. Equities research analysts expect that BYLINE BANCORP will post $0.94 EPS for the current fiscal year.
In other news, CFO Lindsay Y. Corby bought 4,000 shares of the company’s stock in a transaction that occurred on Thursday, July 6th. The stock was bought at an average price of $19.00 per share, for a total transaction of $76,000.00. Following the transaction, the chief financial officer now directly owns 9,271 shares of the company’s stock, valued at approximately $176,149. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Thomas J. Bell III acquired 3,000 shares of the stock in a transaction on Thursday, July 6th. The stock was bought at an average price of $19.00 per share, with a total value of $57,000.00. Following the transaction, the senior vice president now directly owns 5,905 shares of the company’s stock, valued at approximately $112,195. The disclosure for this purchase can be found here. Insiders purchased a total of 42,057 shares of company stock valued at $765,320 in the last 90 days.
A number of large investors have recently modified their holdings of the company. Jennison Associates LLC purchased a new stake in shares of BYLINE BANCORP during the second quarter valued at $11,352,000. Banc Funds Co. LLC purchased a new stake in shares of BYLINE BANCORP during the second quarter valued at $8,622,000. Castine Capital Management LLC bought a new stake in BYLINE BANCORP during the second quarter worth approximately $4,466,000. Stifel Financial Corp bought a new stake in BYLINE BANCORP during the second quarter worth approximately $3,546,000. Finally, KEMPER Corp bought a new stake in BYLINE BANCORP during the second quarter worth approximately $4,376,000. 2.77% of the stock is currently owned by institutional investors.
About BYLINE BANCORP
Byline Bancorp, Inc is a bank holding company. The Company operates through its subsidiary, Byline Bank (the Bank). Byline Bank is a full service commercial bank. The Bank operates through 56 branches in the Chicago metropolitan area. The Bank offers a broad range of banking products and services to small and medium sized businesses, commercial real estate and financial sponsors, and to consumers.
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